Geely introduces the world to its electric subsidiary ‘Zeekr’

The Chinese automaker Geely has officially announced its new electric subsidiary that goes by the name ‘Zeekr’. The new brand from Volvo’s Chinese parent company is set to be an offering in the premium segment. 

The upcoming brand ‘Zeekr’ is supposed to be Geely’s answer to the electrical revolution that is reaching new heights with competitors like Tesla. Its new premium brand will be operating separately from the mainstream brand of EV, with its partnership with Geely to manufacture trucking, satellites, drones, and partnerships with major firms like Tencent, Baidu, and Foxconn. 

Apparently, Geely will be investing a total of $300 million for its new venture. Zeekr is also expected to make use of Geely’s Sustainable Experience Architecture (SEA) for offering cloud-supported software updates throughout the lifetime of the cars manufactured by the automaker. However, the newly formed brand will be using its own battery technologies, EV motor technologies, battery management systems, and EV supply chain support. 

According to representatives at Geely, “Zeekr will create a new ecosystem that is focused on the full integration of the end-user into a new super ecosystem focusing on the full service of end-user requirements with innovation as a standard approach in terms of sales and servicing. The Chinese name of Zeekr has been confirmed as Ji Ke.”

Talking of their venture, Zeekr is said to be a joint-ownership under Geely Auto and Geely Holding, with holdings of 51:49 share structure respectively. Further, both organizations have agreed to invest a sum amount of RMB 2 billion (SGD 41,17,50,000) as capital for the newly formed company. 

Talking of the date of its first offering’s release, the automaker expects Zeekr’s first car to hit the market by the third quarter of 2021. However, sources confirm that the automaker will not be releasing any technical specifications around the upcoming model, until the date or time of commencement. 

Lastly, Li Shufu is expected to hold the chairman’s post in Zeekr, with the CEO’s position filled by An Conghui (President of Geely Holding and Chairman of Geely Auto).

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